MongoDB (NASDAQ:MDB) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $430.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 18.87% from the company’s previous close.

A number of other equities analysts have also weighed in on MDB. Piper Sandler reaffirmed an “overweight” rating and issued a $470.00 target price on shares of MongoDB in a research note on Wednesday, September 30th. Cantor Fitzgerald restated an “overweight” rating and set a $540.00 price objective on shares of MongoDB in a research note on Friday, October 2nd. Weiss Ratings upgraded shares of MongoDB from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Rosenblatt Securities increased their price objective on shares of MongoDB from $395.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, Monness Crespi & Hardt increased their price objective on shares of MongoDB from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $462.91.

MongoDB Stock Performance

NASDAQ MDB traded up $5.45 on Tuesday, reaching $361.74. The company had a trading volume of 591,516 shares, compared to its average volume of 2,017,856. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 509.13, a price-to-earnings-growth ratio of 40.08 and a beta of 1.74. MongoDB has a 1-year low of $215.68 and a 1-year high of $473.10. The company’s fifty day moving average is $395.72 and its 200-day moving average is $339.73.

MongoDB (NASDAQ:MDB) last announced its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. The firm had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. On average, research analysts forecast that MongoDB will post 0.47 earnings per share for the current year.

Insider Activity

In other news, Director Charles Hazard, Jr. sold 595 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $363.85, for a total value of $216,490.75. Following the sale, the director directly owned 45,237 shares of the company’s stock, valued at approximately $16,459,482.45. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope Cochran sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total transaction of $375,920.00. Following the completion of the sale, the director directly owned 28,326 shares in the company, valued at approximately $10,648,309.92. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 31,595 shares of company stock valued at $13,065,211. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mainsail Asset Management LLC bought a new position in shares of MongoDB during the third quarter worth approximately $203,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of MongoDB by 19.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 800 shares of the company’s stock worth $279,000 after purchasing an additional 133 shares during the period. Krilogy Financial LLC increased its holdings in shares of MongoDB by 11.4% during the third quarter. Krilogy Financial LLC now owns 3,594 shares of the company’s stock worth $1,370,000 after purchasing an additional 369 shares during the period. Sax Wealth Advisors LLC bought a new position in shares of MongoDB during the third quarter worth approximately $812,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of MongoDB by 43.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,902 shares of the company’s stock worth $1,078,000 after purchasing an additional 874 shares during the period. 89.29% of the stock is owned by institutional investors.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.